Seven Eight Capital LP Acquires New Holdings in StoneCo Ltd. (NASDAQ:STNE)

Seven Eight Capital LP bought a new stake in StoneCo Ltd. (NASDAQ:STNE) during the second quarter, Holdings Channel.com reports. The firm bought 121,579 shares of the company’s stock, valued at approximately $1,458,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of StoneCo during the 1st quarter valued at $41,000. Central Bank & Trust Co. bought a new position in StoneCo in the second quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of StoneCo by 152.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after purchasing an additional 2,110 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after purchasing an additional 2,275 shares during the last quarter. Finally, Invst LLC acquired a new position in shares of StoneCo in the first quarter valued at approximately $172,000. Institutional investors own 73.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STNE shares. Evercore ISI reduced their target price on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. UBS Group boosted their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, June 6th. The Goldman Sachs Group reduced their price target on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Barclays lowered their price objective on StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, StoneCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

StoneCo Stock Performance

Shares of StoneCo stock opened at $12.35 on Friday. The company has a market cap of $3.82 billion, a P/E ratio of 11.13, a PEG ratio of 0.44 and a beta of 2.31. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $13.03 and a two-hundred day moving average price of $14.27. StoneCo Ltd. has a 1-year low of $9.34 and a 1-year high of $19.46.

StoneCo (NASDAQ:STNE) last released its earnings results on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The business had revenue of $615.13 million for the quarter, compared to analyst estimates of $590.74 million. As a group, analysts anticipate that StoneCo Ltd. will post 1.1 EPS for the current year.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.